A Ferrari 250 GTO sold for $51.7million becomes the most expensive Ferrari auctioned

RM Sotheby’s New York sales of Contemporary and Modern Art conducted in the third week of November 2023 saw the auction house put the hammer down at a whopping $51.7 million for a 1962 Ferrari 330 LM / 250 GTO, making it the most valuable Ferrari to be sold at an auction. What makes this Ferrari 250 GTO, with chassis no. 3765, so unique is its extensive racing history of being the only GTO Tipo 1962 raced by Scuderia Ferrari. Its glorious racing pedigree comprises a class win and a 2nd overall finish at the 1962 Nürburgring 1000 KM, participating in the 1962 24 Hours of Le Mans and finishing runners up at the 1965 Sicilian Hillclimb Championship event. The heightened levels of restoration and maintenance equal its racing pedigree as it boasts a 2nd place finish in the GTO class at the 2011 Pebble Beach Concours d’Elegance, and a Best of Show award at the Amelia Island Concours d’Elegance. It was previously owned by a chairman of the Ferrari Club of America and after nearly four decades in private ownership, it now changes hands at a steep price. “Celebrating this sale during Sotheby’s marquee week highlights the unparalleled stature of this Ferrari as one of the world’s most desirable objects. The result, achieved through collaboration between Ferrari, RM Sotheby’s, and Sotheby’s, echoes our mutual pursuit of perfection—mirroring the very ethos Enzo Ferrari embodied when designing this car. Fetching $51.7 million, this transaction adds a new chapter to a vehicle with an unmatched legacy. Now, it ranks among the most expensive cars sold at auction, a true testament to its singular place in history.” – Gord Duff, Global Head of Auctions